进入12月，私募基金经理的年度收益排名也进入了最终冲刺阶段。今年1-11月，所管产品至少有3只符合排名规则的私募基金经理共有570位，今年来收益 均值和中位数分别为29.42%、23.89%。 如果按规模划分，从收益中位数来看，百亿私募基金经理表现较好，达到27.92%；从平均收益来看，规模为5-10亿的基金经理收益较好，达到30.33%。 其中，以股票策略为核心的基金经理共有346位，占比60.7%，他们今年1-11月的收益均值和中位数分别为35.26%、31.1%，跑赢同期沪深300指数17.94% 的涨幅。此外，以多资产策略和期货及衍生品策略为核心的基金经理也较多，分别有82位，65位。 从基金经理所属公司的投资模式来看，主观私募基金经理共有301位，占比过半；此外，量化私募基金经理分别有187位，混合型私募（"主观+量化"）的 基金经理有82位。今年中小盘股整体表现占优，为量化私募的基金经理的发挥提供了有利环境；而AI算力等板块的趋势性行情，也为主观私募基金经理 提供了机会。 100亿以上：陆航夺得季军！宁波幻方量化两位基金经理上榜 在百亿私募中，今年1-11月收益位列10强的基金经理的"上榜门槛"为 ...

Core Insights - The number of billion-level private equity firms has increased to 108 as of October 28, 2025, up from 96 at the end of September 2025, marking an increase of 12 firms [1] - Quantitative private equity firms have emerged as the new main players, with 8 out of the 13 new entrants being quantitative firms [1][2] - The average return for billion-level private equity firms this year is 30.49%, with 98.57% of these firms achieving positive returns [3][4] Group 1: Growth of Billion-Level Private Equity Firms - The number of billion-level private equity firms has risen by 17 compared to the end of 2024, with 31 new entrants and 14 exits [2] - Among the new entrants, 18 are quantitative firms, 9 are subjective firms, and 3 are mixed [2] - Notable new entrants include firms like Xiyue Investment and Square Harmony Investment, while familiar names like Honghu Private Equity and Shanghai New Equation have returned [2] Group 2: Performance Metrics - Quantitative private equity firms have an average return of 33.06%, outperforming subjective firms, which have an average return of 25.92% [4] - Of the 70 billion-level private equity firms with performance data, 69 achieved positive returns, with 35 firms yielding returns between 30% and 49.99% [3][4] - The performance distribution shows that 39 firms have returns exceeding 30%, with the majority being quantitative firms [4]

Core Insights - The median return of private equity firms in Hangzhou for the first three quarters is nearly 29%, with the top 10 firms having a threshold return of over 35% [2] Group 1: Private Equity Firms Overview - There are 47 private equity firms in Hangzhou that meet the statistical criteria of the data provider [2] - Among the top 10 private equity firms, 5 are quantitative, 4 are subjective, and 1 employs a combination of both strategies [2] - In terms of core strategies, 8 firms focus on stock strategies while 2 adopt multi-asset strategies [2] Group 2: Top Private Equity Firms - The top 5 private equity firms in Hangzhou for the first three quarters of 2025 are: Nongfu Private Equity, Haokun Shengfa Asset, Berkshire Investment, Yunqi Quantitative, and Hangzhou Boyan Private Equity [2] - Notable firms in the top 10 include well-known billion-dollar quantitative firms such as Ningbo Huansheng Quantitative and Longqi Technology [2]